Opening an account in Ethiopia

Quick facts on how Ethiopians and Ethiopian Origin living in the Diaspora can open the Foreign Currency Account in their country of origin.

Requirements

Who can open the Foreign Currency Account?

1. All Ethiopian nationals and foreign nationals of Ethiopian origins living and working abroad outside Ethiopia for more than one year i.e. a non-resident and holder of a valid Ethiopian passport for Ethiopian Nationals and identification card for Non-Resident Foreign Nationals of Ethiopian Origin (attesting that s/he is a foreign national of Ethiopian origin)

2. Business entities owned by by non- resident Ethiopians and located outside the Ethiopian territory for more than one year.

Types of Foreign Currency Account

1. Interest Bearing Non- resident Fixed Foreign Currency Account

2. Interest Bearing Birr account

3. Non- Interest Bearing Non- Resident Foreign Currency Account

Directive No. FXD/25/2006 Amendment to Directive No. FXD/25/2005

Establishment and Operation of Foreign Currency Account for Non-Resident Ethiopians and Non-Resident Ethiopian Origin. National Bank of Ethiopia, (28 August 2006) (PDF)

How to open the Foreign Currency Account?

Persons living abroad may contact the opening bank in person, by post, e-mail, fax, telex, and or/ other electronics media authorized by the bank to open an account in his/her name.